BIT Mining Invests Another $11M in Ohio Crypto Mining Data Center
The funding will be used to add an extra 65 megawatts of power capacity.
Oct 18, 2021 at 12:26 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/YD22K73345H2RNSDP7PX22MKAI.jpg)
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Tanzeel Akhtar is a reporter based in London,UK.
Cryptocurrency mining company BIT Mining (NYSE: BTCM) is investing another $11 million in the Ohio site it is developing with Viking Data Centers.
- BIT Mining said $9.8 million will be paid in cash and the rest in cash or shares.
- That’s on top of the $12.4 million it agreed to invest in September.
- The investment will take BIT Mining’s interest in the site to 55%, with Viking at 45%.
- As a result of the investment, the site’s power to capacity will climb to 150 megawatts (MW), up from the 85 MW originally planned.
- The companies expect to complete the process by March 31, 2022.
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